Transportation of containers, announced that it took delivery of its ninth vessel, the OOCL China, a 5,344 TEU Post-Panamax containership built in 1996 at Samsung Heavy Industries in Korea.
The vessel is chartered to Orient Overseas Container Lines Ltd. ("OOCL") for a period of thirty-six (36) months plus or minus thirty days (30) at a net daily rate of US$26,465.
The Company also announced that on June 27, 2012, it entered into definitive documentation for a $25.0 million credit facility with ABN AMRO to partially finance the acquisition of the OOCL Hong Kong and the OOCL China.
The borrowers under the credit facility are Triton Shipping Limited and Rosetta Navigation Corp., the vessel-owning subsidiaries that own the OOCL Hong Kong and the OOCL China, respectively, and Box Ships Inc. is the corporate guarantor.